This Question is for all members who understand Crypto-currency Tax in the United Kingdom:
What TAX do you pay when you withdraw your crypto-currency earnings in Pound Sterling (£), using your UK bank account?
- Is is Capital Gains Tax OR Income tax?
I'm not an expert in the UK legislation law,but capital gains tax is paid on savings that you've invested,while income tax is paid on the money(or crypto) that you have earned,while working online(freelance or something else).Do you see the difference?I guess that profits from long term crypto trading should be considered capital gains.I'm not sure though.